Envestnet Portfolio Solutions Inc. Has $541,000 Holdings in Piper Sandler Companies (NYSE:PIPR)

Envestnet Portfolio Solutions Inc. grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,805 shares of the financial services provider’s stock after acquiring an additional 176 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Piper Sandler Companies were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System raised its holdings in Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after acquiring an additional 40 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares during the period. GAMMA Investing LLC raised its stake in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares in the last quarter. MML Investors Services LLC lifted its position in Piper Sandler Companies by 4.3% in the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 74 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Piper Sandler Companies by 30.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock worth $112,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

PIPR stock opened at $268.70 on Wednesday. The business has a fifty day moving average price of $267.95 and a 200 day moving average price of $291.67. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 26.29 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the firm earned $4.03 earnings per share. On average, equities analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Wall Street Analyst Weigh In

PIPR has been the subject of a number of analyst reports. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.